23 Jun 2021

IQ Option

admin

Overall score: 98

Official Site

Available in Colombia?

Yes

Average Spread for EUR/USD

variable from 0.6 pips.

Founded in

2013

Maximum leverage

1:1000

Regulation

CySEC

Platforms

Own WebTrader, App for iOS, App for Android

Minimum deposit

10$

Instruments

Binary options, digital options, CFDs on Forex, stocks, cryptocurrencies, commodities, ETFs.

We believe that IQ Option is a good broker to trade from Colombia, as it has low spreads, multiple markets, binary/digital options and a platform suitable for beginners. In addition, its payment methods are easy to use in our country.

Facts about IQ Option

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What is IQ Option? Reviews and Analysis

IQ Option is a trading platform founded in 2013 that has become a popular choice for investing in the financial markets. To date, the broker has nearly 50 million users and processes more than 1.4 million transactions per day.

IQ Option's brand name is widely known in Colombiawhere a large number of people use it to trade currencies, stocks and shares, commoditiescommodities, ETFs and even cryptocurrencies.

If you have questions about IQ Option, we can help you. We have extensive experience using this platform from Colombia, and here are our opinions.

Is IQ Option legal in Colombia?

IQ-Option_legal

Yes, IQ Option is legal in Colombia. The platform is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license #247/14which applies to international traders and investors. Of course, Colombians included.

CySEC is one of the main regulatory agencies in the European Union. It ensures that the activities of its supervised parties are always transparent.

The CySEC license offers several advantages for you, as a trader, including:

  • Funds in segregated accounts, separate from IQ Option funds.
  • Investor Compensation Fund (ICF), which protects your capital up to 20.000 €. in case of bankruptcy of the broker.
  • Protective measures, such as the obligation imposed by CySEC to contract external audits.

We know that online trading is a sensitive activity. That's why we are pleased to know that IQ Option is regulated by such a highly recognized organization as CySEC.

IQ Option is a reliable trading platform in Colombia, as it is regulated by CySEC of the European Union. 

How to invest in IQ Option from Colombia (7 steps)

By following these 7 steps, you can create your IQ Option account in Colombia and start trading. The process takes between 5 and 10 minutes:

  1. Visit the IQ Option website and click on "Register".
  2. Enter your basic information or sign up with your Facebook or Google account.
  3. Confirm that you are at least 18 years old and click on "Complete registration".
  4. Log in to your account. On the right side of the screen you will find the "Deposit" button.
  5. Choose a payment method and top up your account. There are several options, such as PSE, Efecty, Baloto, Supergiros and Visa and Mastercard cards.
  6. Depending on the payment method, complete the requested information. For example, if you pay with Efecty, you will see the reference number that you must indicate to the cashier.
  7. Once you have reloaded your account, return to your IQ Option account and click "Trade".

At this point you are already in the trading platform, where you can choose an asset to trade. If this is the first time you do it, we suggest you to try out the binary and digital options. These are fast instruments that pay out profits within minutes.

IQ Option Account Types

On this platform you can choose between two account types: Real and VIP. Actually, these accounts have very similar features, so you are most likely using a Real account.

Real VIP
Minimum deposit 10 USD 3000 USD
Average Spread for EUR/USD Variable from 0.6 pips Variable from 0.6 pips
Commissions N/A N/A
Maximum leverage Up to 1:1000 Up to 1:1000
Platforms IQ Option IQ Option
Minimum volume per order 1 USD 1 USD
Recommended for Beginners, experienced traders Options traders

IQ Option also offers demo accounts with 10,000 virtual credits for you to test the platform. This account is perfect for free practice or testing trading strategies you have in mind.

Real

This account is suitable for all types of investors, from beginners to experts. The Real account requires a minimum deposit as low as 10 USD and offers variable spreads from 0.6 pips for EUR/USD.

One thing we like about this account is its low volume requirement per order. To open a trade, you only need to invest 1 USD. This is a lower amount than other brokers we have tested.

The Real account also has a flexible leverage of up to 1:1000, which allows you to make the most of small deposits.

VIP

The VIP account has almost the same features as the Real account, but requires a minimum deposit of 3000 USD.

This kind of account has some additional benefits, such as higher profitability on binary options, personal support agents and free entry to all tournaments.

Although the VIP account provides certain extra advantages, we believe that the Real account is suitable for any trader's needs.

Trading platform

This broker has a unique trading platform: IQ Option. We can tell you that this is one of the best software we have used for trading the markets.

IQ Option
Desk
Web
Mobile
Economic calendar
Temporalities 7
Indicators +60

IQ Option

IQ Option_diagrama

IQ Option is a trading platform developed by the broker itself, which won the award for the best trading platform in the world. best trading app in the world Mobile Star Awards. We must admit that we love using this program, as it is easy to use and includes several useful functions.

Unlike other software, such as MetaTrader 4 or SaxoTraderGO, IQ Option is quite intuitive. Even if you have no trading background, you will probably be able to figure out the options on your own and start trading in no time.

However, just because it's easy to use doesn't mean it's underpowered. This platform has many useful toolsYou can also use the trading platform, such as technical indicators, financial news, economic calendar and even a chat room to talk to other traders. 

With all these options, we have never had to leave the software to do our technical and fundamental analysis. IQ Option's software offers it all.

IQ-Option_glavnay

Another advantage of the platform is its user interfacewhich is elegant and intuitive. It is not a feature that helps to make money, but it provides a pleasant trading experience. 

Considering the above, we believe that IQ Option's platform is perfect for you regardless of your goals and level of experience. Whether you're a beginner or an expert, we know that this software will offers you what you need to operate successfully.

IQ Option is our favorite trading platform because it is powerful, yet easy to use. We recommend it whether you are a beginner or an expert.

IQ Option Markets and Instruments

IQ Option has an extensive list of markets including Forex, stocks, cryptocurrencies, commodities and ETFs. However, what we like the most is the binary and digital options. We'll tell you more below:

📊 Binary Options
Instrument Profit Expiration
EUR/USD 85 % - 87 % 1 minute - 1 hour
Facebook 65 % 1 minute - 1 month
Microsoft 65 % 1 minute - 1 month

Binary options are a simple instrument where you simply have to predict whether the price of an asset (e.g. the dollar) will go up or down in price over a given period of time. If you get it right, you will earn a fixed profit of between 50 % and 90 %.

We suggest you try binary options if you are just starting out in the financial markets.

↕️ Digital options
Instrument Profit Expiration
EUR/USD +200 % 1 minute - 15 minutes
GBP/JPY +200 % 1 minute - 15 minutes
EUR/JPY +200 % 1 minute - 15 minutes

Digital options are similar to binary options, with one important difference: you can choose price levels. This allows you to get returns of up to 200 % if you are right.

💵 Forex
Instrument Average Spread Leverage
EUR/USD Variable 1:1000
GBP/USD Variable 1:1000
USD/JPY Variable 1:1000

On this platform you can find major, minor and exotic currency pairs. The broker has variable spreads starting from 0.6 pips for EUR/USD, which makes it an ideal choice for Forex scalping.

🗠 Actions
Instrument Commission Leverage
Facebook N/A 1:20
Apple N/A 1:20
Netflix N/A 1:20

At IQ Option you can trade the world's leading stocks with low spreads and a leverage of up to 1:20. The company offers stocks from US, European and Asian exchanges.

Cryptocurrencies
Instrument Average Spread Leverage
Bitcoin Variable 1:3
Ether Variable 1:5
Litecoin Variable 1:5

We can tell you that IQ Option's variety of cryptocurrencies is second to none. While some brokers offer Bitcoin, Ether and maybe Ripple, this platform not only has those coins, but also different altcoins like Doge, Cardano, TRON and Omisego.

🛢️ Raw materials
Instrument Average Spread Leverage
Gold Variable 1:100
Brent Oil Variable 1:100
WTI Crude Oil Variable 1:100
Silver Variable 1:100

The commodities catalogue of this platform is rather small. You can trade two metals and two oil benchmarks with a leverage of up to 1:100. Unfortunately, IQ Option does not offer trading of agricultural and other energy assets.

💰 ETFs
Instrument Commission Leverage
Gold Miners ETF N/A 1:20
China Large-Cap ETF N/A 1:20
US Real State ETF N/A 1:20

Exchange traded funds (ETFs) are great investment vehicles for diversification. Luckily, IQ Option has a wide variety of ETFs across all industries, including real estate, energy, metals, semiconductors and more.

How to Deposit and Withdraw from IQ Option in Colombia

IQ Option allows you to deposit with several Colombian payment methods, such as PSE, Efecty and Baloto. When withdrawing, you have to use an eWallet (like Skrill or NETELLER) or request a refund on your credit card:

Credit cards PSE Cash (COP) Bitcoin eWallets
Minimum deposit 10 USD 12 USD 10 USD 35 USD 10 USD
Processing time (reloading) Instant Up to 2 business days Up to 2 business days Instant Instant
Processing time (withdrawal) Instant N/A N/A N/A Up to 3 business days
Commission N/A N/A N/A N/A N/A
Notes You can deposit with Visa and Mastercard Reliable method to deposit at IQ Option You can use Efecty, SuRed, Éxito, Moviired, Puntored, Supergiros, Baloto Top up directly with your Bitcoin wallet. You can use Skrill, AdvCash, NETELLER, Perfect Money, WebMoney.

Credit cards

You can top up your IQ Option account with credit cards. Visa and Mastercard. The platform also supports virtual cards from Nequi, Bancolombia, Banco de Bogotá, Davivienda and similar services.

At the time of withdrawal, you can request a refund to your card, but only up to the amount you deposited. To cash out the excess, you will have to use a eWallet.

Look at the following example:

  • Deposit 100.000 COP with Nequi Visa card.
  • Trade stocks at IQ Option and earn 50.000 COP.
  • Now your balance is 150.000 COP.
  • When withdrawing, you can send up to 100.000 COP to your Nequi card (the bank processes it as a refund).
  • You can withdraw the remaining 50,000 COP to an eWallet such as Skrill or NETELLER.

Once you have the money in the eWallet, you can send it to a bank account.

PSE

A good option for making a deposit at IQ Option is PSE. Through this alternative, you can use any Colombian bank to deposit money on the platform.

However, you cannot withdraw by this method. You will have to request a cashout in an eWallet and then send it to your bank account.

Cash Deposits

One option that IQ Option offers that not many brokers have is the payments in Colombian pesos in companies such as Efecty, SuRed, Éxito, Moviired, Puntored, Supergiros and Baloto.

To deposit at IQ Option with Efecty or other means in cash, follow these steps:

  1. Register with IQ Option.
  2. Log in and click on "Deposit".
  3. Choose Efecty or your preferred payment method.
  4. In the "Currency" tab choose "COP" (Colombian peso) and indicate the amount to enter.
  5. Now, a code will appear that you will have to take to the Efecty cashier, along with the money.

When you want to withdraw, you can request a cashout in an eWallet and then send it to your bank account.

Bitcoin

This is a rare alternative among brokers operating in Colombia. The best thing about IQ Option is that it accepts direct payments from Bitcoin walletsYou only need to send your coins to the company's address.

eWallets

IQ-Option_eWallets

On this platform you can manage your money with different eWallets, including Skrill, AdvCash, NETELLER, Perfect Money and WebMoney.

The main advantage of these gateways is their compatibility with the Colombian market. For example, you can top up with Efecty or Baloto, and request charges to your Bancolombia, Nequi, Davivienda or any other bank account.

This is the best method to withdraw your money at IQ Option. Once you receive your payment in the eWallet, you can send it to any of your bank accounts in Colombia.

IQ Option has several deposit methods valid in Colombia. However, to withdraw you must use an eWallet or request a refund on a card.

IQ Option Customer Support in Colombia

IQ-Option_nomer

One reason why we prefer IQ Option over other companies is because the quality of your support. This broker provides 24-hour advice through different channels, including a live chat and a toll-free hotline in Colombia.

Whenever we contact IQ Option with our concerns and issues, we always receive an fast and friendly service. The consultants respond to us within seconds and know how to give relevant and effective answers.

We believe that solid support is essential for successful trading (especially if you are just starting out). From our own experience, we can confirm that IQ Option does not fail in this regard.

IQ Option Verdict

Pros and cons
️Excellent trading platform Few raw materials
️Payment methods for Colombian traders
️Binary and Digital Options

If you live in Colombia and you plan to invest in Forex, stocks or any other asset, IQ Option is a company we can recommend. 

IQ Option has several positive attributes that make it a good broker, including low spreads, user-friendly platform and low minimum deposit. Whether you want to trade or invest for the long term, the company offers what you need.

If in doubt, open a demo account and explore the platform. You have nothing to lose, but a lot to gain.

Frequently Asked Questions

How do I withdraw funds from IQ Option in Colombia?

You have to request a refund to your credit card (up to the amount deposited with the card) or send your money to an eWallet like Skrill or NETELLER. Once you have the money in the eWallet, you can send it to your Colombian bank account.

How do I recharge IQ Option in Colombia?

You can recharge from 10 USD with Visa and Mastercard cards, PSE and cash at Efecty, Baloto, Supergiros, Éxito, SuRed, Puntored and Moviired. Deposits are immediate and have no commission.

How do I profit at IQ Option from Colombia?

Open an account with IQ Option and make a deposit. Then log in to their trading platform and choose an instrument to trade. If you correctly predict the price direction of that asset, you will make an immediate profit.

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